First Bank & Trust increased its position in Occidental Petroleum Co. (NYSE:OXY) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,556 shares of the oil and gas producer’s stock after purchasing an additional 6,195 shares during the quarter. Occidental Petroleum makes up 1.7% of First Bank & Trust’s portfolio, making the stock its 13th largest holding. First Bank & Trust’s holdings in Occidental Petroleum were worth $2,103,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Fis Group Inc. bought a new position in shares of Occidental Petroleum during the third quarter valued at $126,000. Enterprise Financial Services Corp lifted its holdings in shares of Occidental Petroleum by 68.5% during the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 806 shares during the period. MPS Loria Financial Planners LLC bought a new position in shares of Occidental Petroleum during the second quarter valued at $147,000. Davis R M Inc. bought a new position in shares of Occidental Petroleum during the fourth quarter valued at $203,000. Finally, Atlantic Trust LLC lifted its holdings in shares of Occidental Petroleum by 23.8% during the second quarter. Atlantic Trust LLC now owns 2,785 shares of the oil and gas producer’s stock valued at $154,000 after acquiring an additional 535 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on OXY. Macquarie began coverage on Occidental Petroleum in a report on Wednesday. They set a “neutral” rating for the company. Mizuho set a $71.00 price objective on Occidental Petroleum and gave the company a “hold” rating in a report on Friday, November 24th. Scotiabank reissued a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Barclays lifted their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Monday, November 20th. Finally, Credit Suisse Group began coverage on Occidental Petroleum in a report on Monday, December 11th. They set a “neutral” rating and a $62.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $67.53.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company posted ($0.15) earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. analysts predict that Occidental Petroleum Co. will post 0.8 EPS for the current fiscal year.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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